Verizon has announced its plans to partner with RIM in bringing yet another app store to the market. Named VCast Application Store, Verizon’s app store will launch in the fourth quarter. It is promising a 14-day turnaround time, it will not charge for certification and testing of new apps and developers can expect a 70% return in revenue.

According to RIM’s co-CEO, Jim Balsillie, the collaboration will not affect support for BlackBerry App World, which launched in April. When asked whether or not the world needs another app store, Balsillie replied “absolutely,” adding that “developers want channels,” so Verizon’s entry is good news. He also announced a Web devkit for the BlackBerry, which includes tools for Eclipse and Microsoft Visual Studio version 1.2.

Although RIM has seen more downloads from Verizon users than any other carrier, the VCast App Store is not expected to collide with competing platforms. Verizon is hoping to create a one-click process for obtaining apps, noting that the billing process is the single highest barrier to people buying apps. Verizon will depend on its website's 60 million registered users to drive the store upon launch.

In unrelated news, Verizon has also announced free Wi-Fi for its FiOS and DSL subscribers, as well as a joint venture for machine-to-machine wireless communications with Qualcomm.